Hi friends, I’ve been trying to figure out how to best help my parents in their mid 50s to help save for retirement. They’re immigrants, didn’t understand the value of 401k until recently and couldn’t afford early on (they have 401k now but not a whole lot). They have about 50K extra put aside, I’m trying to figure out if they should add to their mortgage or invest (they are pretty scared of investing) I was thinking some for house payment to bring down principal and rest in Roth, thoughts?

like
Posting as :
works at
You are currently posting as works at

Bruh. What. We are the retirement plan. They poured everything into us to get us here. Now it's your turn to lift. Frankly there's not a whole lot of investing they can do at this point that would return meaningful passive income in 10-15 years.

likeupliftingfunny

What kind of returns are you looking for? Maybe a HYSA is sufficient? HMBradley credit card. Or yolo with crypto

Depending on the mortgage interest rate, it is probably "statistically" a higher return on an index fund, but your parents may not be interested in that.

Roth will be good, max it out if possible.

like

Dont pay the mortgage off then. That’s practically free money and will be cheaper over time given the interest rates

like

Related Posts

Best books about product management for a good exit to industry? I already have an MBA and PMP but looking for a refreshed perspective since it’s been years since my formal education.

Currently reading “Product Managements Sacred Seven” but it’s geared toward the startup world. I am in healthcare and not looking for a startup role. TIA!!!

like

How do you invest your bonus? For context have ~40k in student loans (~4.8% rate), not interested in a house/apt purchase anytime soon, just want to save up for ~major life events~, have a little bit of money for fun and invest most of it. Any tips on percentages etc?

like

Hello, I have received an offer from Southwest Airlines as a Associate Technology Analyst with their direct college hire program. Will be graduating in May with a degree in MIS and also have internships experience as a Business Systems analyst intern. The salary compensation started off at 66,500 but was looking for the 75k range and they got back to me saying the best they can do is 68,500. They also have a 401k company match up to 9.3%. Do you think this is a solid offer for this job market?

like

Are there any pros to staying at a company and getting laid off, vs. proactively looking for a new job and quitting before it happens? I.e., financial (possibility of receiving severance or any other benefits). Or is being laid off just all bad? I don’t know if my job is at risk — I don’t believe it is — but my agency lost some clients and is talking about cost cutting to be safe and get ahead of it. Fwiw, I’m ready for a change anyway.

like

I just got approved for my second CC and it has a limit of $18,000. The credit card is with Navy Federal and it’s the cash rewards card that yields 1.75% cash back on all purchases. Can anyone give any tips or ideas as to what I can do with this? I was thinking to purchase an existing business that is already generating income. Thoughts?

like

Have a bud who was a FX trader and now unemployed. Saw him yesterday and he wants to roll over his 401k at abt 800k. Now he has some bad habits so I ignored him but now need to give him an answer.

like

Expecting the 6th Jan SEC meet to rock crypto markets - liquidating and holding on GDAX in USD with Limit Orders - cash is also a position. #HODLifSTUPID

Anyone work for Uber? Thoughts on culture, benefits, etc..?

like

What does your benefits package include?

like

I went through two rounds of interviews for
a job that the posting stated $36.66 per
hour (FP&A Analyst)…the company
recruiter had told me in the initial call the
pay could be 32-36 because of the other
benefits. If I do get a job offer what range
should I try for? I was really hoping to get
around the 36-40 but now I feel like they
may try to offer lower than what was
posted. Also there was no range but the
average for this position is upper 70s-90k.
Thanks for any help!

like

If we actually did move to a single payer healthcare system (Medicare for all) and companies no longer offered healthcare plans, would you switch from staff to freelance?

like

Friends Alcon is a Switzerland origin product based MNC. If qny one needs any information regarding company culture, work life balance, benefits etc feel free to reach out me.

like

Hello, I am a healthcare professional looking to get into practice management. I have a background in physician compliance and a masters in healthcare administration. Any tips on how to get into practice management?

like

Anyone return to work from maternity leave experience a major change in their role (i.e. getting sidelined or unofficially demoted in their role)? What steps did you take to address this?

like

Hi all,
I have been a practicing DPT (doctor of physical therapy) for 9 years and am a certified orthopedic specialist. I have worked in multiple environments including hospital based outpatient sports ortho and acute care. I am about to finish up my MBA with a focus on healthcare administration, and am worried that my current place of work may not have a place for me to grow into. I'm hoping that some of you may have suggestions of roles or positions to pursue? Thank you!

like

Does anyone have experience leaving their firm and using the pension benefit to negotiate with the new company? I’m not vested and will receive an offer from industry (company doesn’t have a pension plan). Curious to hear what others have done. My pension wouldn’t be huge but it’s a decent chunk of money to walk away from. What are some things that have worked? Additional sign-on bonus, bigger stock grants, etc. Thanks.

At what number do you feel like you’re making enough whether to satisfy your desires or just not feel guilty about spending money.I’ve been blessed to have my income raised a total of 85% throughout 9 years but shortly after each raise I still feel like it’s not enough to live by and that I’m always behind. I live in a high cost area and make triple of what my friends make yet it still doesn’t feel enough. Cont’d

like

Start tomorrow but I don’t get a match for 401k until 2nd year. Living at home and wanted to pay off my loans. Is it ok if I just do loans, max out IRA, and have an emergency savings? Projected CONTD

Anyone have any tips or ideas on how to collect money owed from a client? In a few months it’ll be two years since the debt was incurred. We send monthly reminders of the bill. It’s a significant amount (well to us) and the client is now starting to open up and telling everyone about the situation that we helped to resolve.

like

More Posts

One of my previous org lost form 16 due to data loss. Now when i try to get pf statment it is saying name is wrong or aadhar is not matching something. This is happening because that time on aadhar and pan my name was different.it was before marriage name. Now i have changed my name after marriage. So there on pf site if i do forget password it won't allow me to do it. Can anyone help me in to this.. how can I get Form 16 and pf statment too. Infosys Tata Consultancy Wipro IBM Deloitte Cognizant

A creative team I started working with recently has decided to ignore my every comment. They take feedback from anyone else but me, and whenever I push them to make said changes, they just pick fights and make snarky comments. Anyone have any idea why this might be?

like

Anyone here remain in their relationship for the kids?? I’m miserable and idk how much more I can take.

like

How far or how long would you commute for a job that can launch your career? I have a good opportunity but they want a hybrid setup with 3 days in the office. Commute is 28 miles and would take 35-50 minutes each way. Trying to see if it’s worth it.

like

Please pour 11 💕 for DM
Thanks

like

Anyone knows and/or recommend a divorce lawyer in the Bay Area. Starting the process for an uncontested divorce. Please comment or DM me.

like

What does your benefits package include?

like

My two young toddlers are home from daycare for the next 1.5 weeks for the holidays, and I have off work to watch them. It’s only been 2 days, and I’m so exhausted that I’m counting down the days until I go back to work and they are in daycare. Does anyone have any tips for enjoying this time? I love my kids so much, but how do SAHMs do this every day? I’m so drained already, and I have no patience left…

like

Have an offer at ZS for Manager and IQVIA as Engagement Manager. What would be better in terms of growth in future?

like

What is LEAD?

like

How is Kaar technologies?

like

anyone joining pwc on 1st September?

Is this too much for the office? I do not own one yet, and am very new to the watch world. I’m hoping to go for this next year.

Post Photo
like

Discovered major pay difference between myself and two new male hires with equal experience. Asked for a raise and was shot down due to Covid and essentially told they make more (were talking a 30k) bc they don’t have my “other responsibilities” aKa my two kids. I know my productivity is effected by parental responsibility but I don’t feel that alone justifies the difference. I know our billable output isn’t drastically different. Not sure what my next steps should be and welcome any advice.

like

I recently started a new sales position, and I know I’m making a lower commission rate than my male counterparts. Could be that I’m new, and they decided to lower it and not because I’m a female. My direct manager is trying to adjust it because we were both told 1% and when my commission started I was at .8%. Any advice would help, I never signed anything that had a commission rate on it. But I’m pretty sure our base as a company has always been 1%.

like

Looking to move to NYC! Anyone have a room?

Need references at DELOITTE and SUTHERLAND

like

I am a 32M and have been on several dates with a 23F. We vibe and chemistry is there but a hurdle that she’s been very open with is the difficulty of telling her parents about this (9 year age gap). Completely understand her situation — how do I approach and/or overcome this? What can I do? Anyone had this large of an age gap in their relationships before? Thanks in advance

like

Hi, does anyone know about Capgemini’s capability and a bit about the organisation in Australia?

like

Additional Posts in Consulting

Feeling really burnt out, on H1B. Can't just take a break from work, also no utilization in this environment is detrimental. What can I do?

like

Funny mnemonics or ways of remembering things you’ve invented?

Alt+H B S for outside borders >>> my 🧠 >>> if you go to HBS you get all the box

likefunny

Is there anyone from McKinsey public sector available to tell me a bit about the work-life balance etc?

like

Do you buy Christmas gifts for your friends?

like

what is a keyboard shortcut that use all the time that you think others don’t know about? What is the shortcut and what does it do?

likesmart

Sitting in an open office. Both ppl next to me are on 15+ minute phone calls (one proposal review, one talking about child care) with open phone rooms 20ft away. What's my best move here?

like

I’m so depressed, have been for years, and don’t see it getting better. I’ve tried everything from therapy, exercise, psychiatry, journaling, self help books, healthy diet, etc. what else is there?

like

What kinds of time-saving tricks have you found useful in your work? Ex. Habits you have adopted or simple automation software

Just started reading about hotkeys and excited about other methods out there

like

How difficult is obtaining an AWS cloud practitioner cert if you’re not particularly technical?

like

How do you deliver feedback to someone on your team who is nice, hard-working, does all the right things, but is a low performer simply because they aren’t particularly smart?

likehelpful
like

Has any of you had any luck joining another firm as a partner while not being one at your current firm?

like

Can you pay for Invisalign with your HSA?

like

I think I’m depressed. Does anyone have a recommendation on where to start?

like

Anyone wonder what clouds feel like

like

Sometimes I read the stuff you all say on this app and think you have a WAY different job than I do

likefunny

Book recommendations on genetics and bio hacking?

like

Anybody here at Carvana Co.? Is it looking like another round of layoffs?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal